The Hindu Business Line : Fund managers showing interest in mid-cap stocks

Kolkata May 31 A clutch of funds has lately stepped up their activity in the mid-cap space, a trend that is reflected in the kind of purchase and sales transactions they have entered into.

The stocks that have been in the thick of developments represent sectors such as IT and ITES, pharma and power, say fund circles, adding that the names concerned are mostly typical cases, commanding no more than modest trading volumes on the stock exchanges.

Some of the stocks that have seen transactions are Educomp Solutions, Omax Autos and Sasken Communication. There are others, each of which attracted fund managers' attention during May.

The funds that have been active on this front include those in the Reliance and ICICI Pru stable.

The two are among the largest players in the asset management industry.

In the case of Educomp, for instance, one of the funds in the Reliance group sold over 91,000 shares.

The number and percentage of shares/voting rights post-acquisition are 1.46 lakh and 0.91 per cent respectively, according to data provided by the NSE.

Omax Autos has seen the ICICI Pru group acquire 15,000-plus shares from the open market, resulting in just over 5 per cent holding in the company.

The number of shares after the deal stands at 10,74,368, it is mentioned.

As fund sources maintain, sales are often initiated after price targets have been met, while purchases are triggered when fund managers want to take positions in the stocks concerned. In the present context, mid- and small-caps have been no exception, it is pointed out.

More Stories on : Stock Markets | Mutual Funds

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Monsoon waits for fresh southerly surge

Global BPO contracts begin on weak note in first quarter

Cos raise $5 b via ECBs in March

Wheat import tender scrapped

Markets trip as China triples trading duty

Fund managers showing interest in mid-cap stocks

Stake sale talk buoys Patni

Institutional buying lifts Dish TV

Nasscom assures US Senators help in detecting visa frauds

Global buys: GTL puts in place Rs 1,000-cr plan

CPI(M) moots regulations for organised retail trade

Physical verification of imported goods by excise officials goes